Anthropic filed its S-1 prospectus on Monday, setting up a highly anticipated initial public offering that will test public-market appetite for a leading artificial intelligence developer. The filing states that the company plans to list on Nasdaq under the ticker symbol ANT, and The Wall Street Journal reported that the offering could arrive later in November.
The paperwork does not specify how much Anthropic intends to raise or what valuation it is targeting. The New York Times reported in August that the company was seeking to raise more than $100 billion at a valuation of around $2 trillion. In the filing, Anthropic told prospective shareholders that machine intelligence represents one of the defining moments in human history and asked them to view a purchase of its stock as participation in something larger than a transaction.
The prospectus offers the first detailed look at Anthropic's finances through the first half of 2026. Revenue climbed to more than $16 billion, up from about $4.5 billion in 2025, according to the filing. The maker of Claude highlighted its enterprise business, reporting that more than 11,900 customers spent at least $100,000 over the past twelve months, more than 1,900 spent $1 million or more, and roughly 250 spent $10 million or more.
Anthropic remains unprofitable despite the revenue growth. It recorded a net loss of $80.7 billion in the first half of 2026, compared with a net loss of $13 billion in the same period a year earlier. The filing warns that investing in the stock carries a high degree of risk, and it lists an unusually thorough set of threats, from securing adequate compute and fending off rival labs to the possibility that advanced AI systems pose catastrophic or existential risks to humanity.
The company also warned that sophisticated AI could be misused by threat actors to launch cyberattacks or develop novel biological weapons, or by authoritarian governments to surveil citizens, and it acknowledged the risk that it could lose control of its own models. Anthropic additionally flagged volatility in government action, specifically the Trump administration's decision to designate the company as a supply chain risk. The filing states that while Anthropic continues to work with government agencies, it cannot be certain that resolving related lawsuits will not hurt its ability to sell to government agencies and to other customers that sell products and services to the US government, and in turn adversely affect its business, financial condition, and results of operations.
The filing comes as rival OpenAI, which filed confidentially for an IPO in the summer, announced in September that it no longer intended to go public this year, citing concerns about the risks AI poses to humanity. Anthropic was founded in 2021 by seven former OpenAI employees who had reportedly lost faith in that lab's ability to develop advanced models safely, and it markets itself as highly safety-conscious. CEO Dario Amodei has repeatedly commented on the risk that AI could eliminate scores of jobs and act against human interests. The filing also outlines Anthropic's ambition to build models capable of accelerating scientific discovery, curing disease, and spurring economic growth, while noting that anything so powerful can be used for ill as well as good. Anthropic did not immediately respond to a request for comment.
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